President Donald Trump stated that new talks with Iran would begin on Monday afternoon. This announcement followed his decision to call off a planned military attack on Iran. Trump indicated that the decision to halt the attack was partly influenced by pleas from US allies in the Middle East, specifically mentioning Saudi Arabia.
The decision to pursue diplomatic talks instead of military action led to a drop in oil prices. Brent crude oil fell by 4.5% to $83.98, while US-traded oil (West Texas Intermediate futures) was 4.6% lower at $80.74 per barrel. This decline reflects market optimism for a diplomatic breakthrough and a potential de-escalation of tensions in the region.
Trump further explained on Air Force One that the planned strikes would have been "the biggest attack since World War II" and could have derailed prospects for a negotiated end to the conflict. He also mentioned that Iran and US allies, including Saudi Arabia's Crown Prince Mohammed Bin Salman, the United Arab Emirates, and Qatar, had urged him against strikes, believing a deal was possible. Trump declined to set a deadline for a deal, stating, "We'll just see how it is. We're ready to go anytime we want... I'm not looking to kill people." Iranian media, however, denied that Tehran had asked the US to hold off on military action.
